Syrian Finance Minister Mohammad Yasser Barhoun met with Italian Minister of Economy and Finance Giancarlo Giorgetti to discuss ways to enhance financial cooperation between the two countries and address existing financial arrears owed by Syria to Italy, on the sidelines of the annual meetings of the International Monetary Fund and the World Bank held in the Thai capital, Bangkok.
The Ministry of Finance stated on Friday that the meeting covered areas of cooperation between the two finance ministries, particularly in technical support, capacity building, and knowledge transfer. It noted that both sides discussed solutions to address overdue debts, including the possibility of debt swaps with investments in Syria, including debts owed by Syria to the International Fund for Agricultural Development (IFAD), which is headquartered in Italy.
The meeting also discussed the possibility of supporting the small and medium-sized enterprises sector, based on Italy's rich experience in this regard, to contribute to strengthening economic activity and supporting recovery efforts in Syria. The Ministry clarified that the Italian Minister praised the reforms undertaken by the Syrian government and the transparency followed, expressing understanding of the Syrian Ministry of Finance's requests and readiness to discuss details related to proposed solutions to ensure their success.
The Italian Minister emphasized his country's support for Syria's efforts to join the European Bank for Reconstruction and Development, and its support for Syria's efforts in regional and international forums. The Finance Minister had earlier in the day met with a delegation of managers from Bank of America to discuss opportunities for financing investment projects in Syria, emphasizing the Ministry's commitment to encouraging global banks to engage in financing large-scale private sector investment projects and public-private partnership projects.
Source: Syrian Arab News Agency (SANA)
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